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DAPP vs IBLC

VanEck Digital Transformation ETF

DAPPBNasdaq

iShares Blockchain and Tech ETF

IBLCBNYSE Arca

Overlap

50.9%by weight

Expense ratio

IBLC −0.05pt a year

DAPP0.52%IBLC0.47%

Avg volume · 30D

DAPP 68.0×the volume

DAPP826KIBLC12.2K

3Y return · a year

DAPP +3.7pt

DAPP+32.0%IBLC+28.3%

DAPP vs IBLC Performance

Oct 31, 2025 – Nov 2, 2026

−43.8%DAPP−41.5%IBLC

Oct 31, 2025 to Nov 2, 2026. DAPP −43.8%. IBLC −41.5%. Use the arrow keys to read each point.−30%−20%−10%0%Oct 2025May 2026Nov 2026
Expense ratio
DAPP 0.52%
IBLC 0.47%, better
Fund size
DAPP $215M
IBLC $64M
1Y total return
DAPP −43.8%
IBLC −41.5%, better
Yield (12M)
DAPP 0.00%
IBLC 7.53%, better
Holdings
DAPP 22
IBLC 50
Avg volume (30D)
DAPP 826K sh, better
IBLC 12.2K sh
NAV per share
DAPP $14.17
IBLC $35.48
52W range

ETF.net Grade

DAPP: Cost 74, Risk 28, Mission 9, Tradability 84, Holdings 49, Durability 78. IBLC: Cost 84, Risk 42, Mission not scored, Tradability 52, Holdings 38, Durability 62.
Pillar letters and Scores for DAPP, IBLC, with each pillar’s weight
PillarDAPPIBLC
Cost30% weightA74A84Higher
Mission25% weightF9Not scored
Risk15% weightD28C42Higher
Tradability15% weightA84HigherC52
Holdings10% weightC49HigherD38
Durability5% weightA78HigherB62

Rank among Crypto Industry Stocks funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. DAPP and IBLC are both graded against the same 20 Crypto Industry Stocks funds, so their Grades compare head to head.

Crypto Industry Stocks⁠

Category · 20 funds
See all 20 ›

DAPP ranks 4th and IBLC 5th of 20 funds in the Crypto Industry Stocks Category.

  1. Rank 1ASTCESchwab Crypto Thematic ETFScore 77
  2. Rank 2AFDIGFidelity Crypto Industry and Digital Payments ETFScore 76
  3. Rank 3BLEGRFirst Trust Indxx Innovative Transaction & Process ETFScore 65
  4. Rank 4BDAPPVanEck Digital Transformation ETFScore 63
  5. Rank 5BBLOKAmplify Blockchain Technology ETFScore 61
  6. Rank 5BIBLCiShares Blockchain and Tech ETFScore 61
  7. Rank 7BDECOState Street Galaxy Digital Asset Ecosystem ETFScore 60

Our read on each fund

ETF.net Research

DAPPBVanEck Digital Transformation ETF

IBLCBiShares Blockchain and Tech ETF

In short

DAPP Crypto exposure without the crypto. DAPP holds the equities of the digital-asset economy (exchanges, miners, infrastructure) and by its own mandate never buys a coin, a coin derivative, or an ICO.

IBLC BlackRock's picks-and-shovels take on crypto: roughly 40 global companies that build, run and use blockchain technology. You own the businesses around the coins, in a plain stock ETF, rather than the coins themselves.

Stated mandate

DAPP Before fees and expenses, the Fund seeks to follow the price and yield performance of the MVIS Global Digital Assets Equity Index, which is designed to represent companies participating in digital-asset economies.

IBLC The fund seeks to track an index of global companies that develop, innovate in, and apply blockchain and crypto technologies, providing exposure to firms involved in digital transformation and blockchain applications.

Why people hold it

  • DAPP A clean split of the trade: you own the businesses built around digital assets, while the fund is barred from holding the assets themselves or derivatives on them.usnews.comaaii.com
  • 0.52% expense ratio, a shade under the typical global thematic fund, for a rules-based index rather than a manager's hunches.
  • One of the more actively traded names in its thematic peer group, which generally means less bid-ask friction on the way in and out.
  • Launched in 2021, early to the crypto-equity shelf, and built on VanEck's own MVIS Global Digital Assets Equity Index.
  • IBLC Costs 0.47% a year, under the 0.56% median for its global thematic peer group.
  • Holds listed stocks in an ordinary ETF wrapper. No wallet, no coin custody, no crypto exchange account.ishares.com
  • The index is rules-based and refreshes as the blockchain universe shifts, so miners, exchanges and chipmakers move in and out on the rules, not a manager's hunch.blackrock.com
  • Casts a global net: US and non-US names both qualify, from an iShares desk that has run index funds for decades.ishares.com

Worth knowing

  • DAPP Non-diversified by design and concentrated in miners and exchanges, so a single company's stumble can move the whole fund.usnews.comaaii.com
  • These companies live off digital-asset activity, so the ride tends to track the crypto cycle even though no coins are held.
  • Not an income holding: nothing was paid out over the past year, so the whole case rests on share prices.
  • IBLC About 40 names. A handful of crypto-linked businesses steer the ride, and swings can be far sharper than a broad global index.
  • Thinly traded and modest in size, so spreads can run wider than at mega-funds, especially during wild crypto sessions.
  • Distributions land annually or semiannually at most. This is a theme basket, not an income holding.

Full DAPP profile⁠

Full IBLC profile⁠

DAPP vs IBLC Holdings

How DAPP and IBLC differ

Overlap by weight

50.9%

Shared holdings make up 67.9% of DAPP and 60.4% of IBLC.

Level by level

  • Asset classAlternatives, Equity0.0%
  • Holdings15 in both50.9%
  • Sector6 Sectors69.0%
  • Countryby domicile80.6%

Sector

Sector weights in DAPP and IBLC, widest gap first
SectorMore in DAPPMore in IBLC
FinancialsDAPP +26.6 points
TechnologyIBLC +26.5 points
CommunicationIBLC +4.3 points
Consumer DiscretionaryDAPP +4.3 points
Health CareIBLC +0.1 points
EnergySame weight

Country, concentration and asset class

Country by domicile

Country weights in DAPP and IBLC, widest gap first
CountryMore in DAPPMore in IBLC
United StatesIBLC +11.0 points
ChinaIBLC +6.8 points
AustraliaDAPP +4.9 points
JapanDAPP +4.3 points
Cayman IslandsDAPP +4.1 points
SingaporeDAPP +3.6 points
Hong KongDAPP +2.5 points
GermanyIBLC +1.6 points

Concentration

Weight in the 10 largest Holdings

  • DAPP64.2%
  • IBLC66.5%

Securities held

  • DAPP20
  • IBLC41

Asset class

DAPP
Alternatives
IBLC
Equity

Holdings

  • Only in DAPP5
  • In both15
  • Only in IBLC26

Only in DAPP

5 securities, 32.0% of DAPP by weight

  • Block Inc10.86%
  • Bitmine Immersion Technologies Inc7.07%
  • Strategy Inc6.26%

Only in IBLC

26 securities, 39.5% of IBLC by weight

  • Mastercard Class A5.97%
  • Advanced Micro Devices5.73%
  • International Business Machines Co5.20%

Weight gaps

All 15 Holdings in both funds, largest gap first.

Holding weights in DAPP and IBLC, widest gap first
HoldingMore in DAPPMore in IBLC
Circle Internet Group IncCRCLIBLC +3.68 points
Coinbase Global IncCOINIBLC +3.35 points
BullishBLSHDAPP +2.99 points
Bitdeer Technologies GroupBTDRDAPP +2.66 points
Bc Technology Group LtdDAPP +2.42 points
Cleanspark IncCLSKDAPP +2.12 points
Iren LtdIRENIBLC +1.86 points
Galaxy Digital IncGLXYDAPP +1.56 points

All 24 DAPP holdings⁠All 41 IBLC holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

DAPP vs IBLC Cost

Overpaying DAPP vs IBLC

$933

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • DAPP 0.52%

    $10,351

  • IBLC 0.47%

    $9,418

$10,000
30 years

Cost over time

  • DAPP 0.52%
  • IBLC 0.47%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$2.5K$5K$7.5K$10K$12.5K051015202530DAPP $10,351IBLC $9,418

Year by year

YearDAPPIBLCOverpaying
10$935$847$88
20$3,593$3,261$332
30$10,351$9,418$933

Expense ratio

  • 0.52%DAPP
  • 0.47%IBLC, cheaper
  • Middle half of Crypto Industry Stocks funds
  • Median 0.66%

IBLC 4th cheapest of 20 funds

DAPP 6th cheapest of 20 funds

DAPP vs IBLC Dividends

Last 12 months to Nov 2, 2026
Yield (12M)
DAPP 0.00%
IBLC 7.53%, better
Payout (12M)
DAPP None
IBLC $2.56
Last payment
DAPP No data
IBLC $2.56
Ex-dividend
DAPP No data
IBLC Dec 16, 2025
Paid on
DAPP No data
IBLC Dec 19, 2025
Frequency
DAPP No data
IBLC Twice a year

Distribution history

Per share, 2021 to 2026, same scale for both

DAPP2 paymentsAll DAPP payments⁠
One bar per payment. 2 payments from 2021 to 2026 YTD. Dec 20, 2021 $1.88; Dec 23, 2024 $0.58. Use the arrow keys to read each point.$0$2.5020232026YTD
IBLCTwice a year · 8 paymentsAll IBLC payments⁠
One bar per payment. 8 payments from 2021 to 2026 YTD. Jun 9, 2022 $0.0033; Dec 13, 2022 $0.08; Jun 7, 2023 $0.19; Dec 20, 2023 $0.33; Jun 11, 2024 $0.07; Dec 17, 2024 $0.47; Jun 16, 2025 $0.02; Dec 16, 2025 $2.56. Use the arrow keys to read each point.$0$2.5020232026YTD

DAPP vs IBLC Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
DAPP 69.3%IBLC 62.2%, better
Return per unit of riskSharpe ratio, 3 years
DAPP 0.73, betterIBLC 0.69
Worst fallMax drawdown, 5 years
DAPP −91.9%IBLC −62.5%since Apr 2022
Market sensitivityBeta, 5 years
DAPP 3.89IBLC 3.60

DAPP and IBLC in the news

All news⁠

Popular comparisons

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    Expense ratio
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